Reported about 16 hours ago
Oracle's stock climbed nearly 5% following the White House's confirmation that the software giant will be part of a consortium controlling TikTok's U.S. operations, which includes a new joint venture with Silver Lake and limited stakes for ByteDance. Alongside this news, Oracle also announced a major shake-up in its leadership, replacing long-time CEO Safra Catz with Clay Magouyrk and Mike Sicilia. The TikTok deal aims to address national security concerns while solidifying Oracle's role in managing TikTok's U.S. user data.
Source: YAHOO